SETTING up the Bulgarian company that will participate in the construction of the Bourgas-Alexandroupolis oil pipeline project has been postponed until April 17, the Ministry of Regional Development and Public Works announced on Tuesday.
The seven companies that will participate are LUKoil-Bulgaria, Magnum 07, Minstroy Holding, Chimremontstroy, Transtroy Bourgas, KZU and Monolit 3.
The chief of the cabinet of the Minister of Regional Development and Public Works Kalin Rogachev announced that the delay was at the request of LUKoil Bulgaria, which has not received a permit from its headquarters in Russia.
According to Rogachev all seven companies, which declared willingness to join the project, have deposited the required fee.
The statute of the venture and its board of directors will be approved on April 17. The Cabinet approved the Trans Balkan Oil Pipeline Bulgaria draft statute and the state's golden share on February 20. The initial capital of the company will be 3 001 000 leva in which the state will hold a golden share with a nominal of 1000 leva.
Bulgarian companies will have a 5 to 25 per cent share in the company to participate in the construction of the Bourgas-Alexandroupolis oil pipeline project.
As the shares the candidates desire exceed 100 per cent, they will be reduced commensurably down to 14.3 per cent each.
All decisions will be made by a majority of three quarters, meaning that the companies must reach a consensus on debatable matters. The board of directors will consist of nine members. All member companies holding more than a 12.5 per cent share will be entitled to have a representative on the board. Thus all the seven members will have a board member. The Ministry of Regional Development and Public Works will have a representative as well. The seven companies must thus elect one more board member. They have rejected the proposal to register the headquarters at the ministry's address. Some 320 000 euro of the authorised capital will be allocated to a feasibility study. The amount will be paid by the German consulting company ILF.
Meanwhile, Bulgaria was left out of the natural gas delivery pipeline project intended to bring Iranian gas to Western Europe.
At a meeting in Thessaloniki on Monday, Turkey, Greece and Austria signed a tripartite agreement on the extension of the route from Turkey to the Balkans. The gas pipeline will pass via Turkey, Greece, Macedonia, Serbia and Monte Negro and Slovenia to Austria, which means that Bulgaria will not be involved.
The negative news came despite the optimism of Bulgarian Energy Minister Milko Kovachev, who said last week that the EU could provide funding for the pipeline via Bulgaria. Kovachev cited European Commi-ssion Vice President Loyola de Palacio.
De Palacio, who is in charge of relations with the European Parliament, Transport and Energy, conferred with Kovachev during an energy industry forum in Brussels. Kovachev pointed to the need for larger financial support for the natural gas pipeline from Iran via Turkey, Bulgaria, Romania and Austria to Central Europe.
De Palacio said funding could be provided under the EU Trans-European Energy Networks Programme.
The envisaged pipeline will carry natural gas from the northern Greek port of Thessaloniki to Austria. Greece's natural gas supplier, Depa, Turkey's state pipeline company, Botas, and Austrian oil company OMV signed the memorandum on Monday.
The so-called 'Balkan gas route' is seen as part of a wider plan to import natural gas and oil from the Caspian Sea and The Persian Gulf into Europe via Turkey and Greece.
The seven companies that will participate are LUKoil-Bulgaria, Magnum 07, Minstroy Holding, Chimremontstroy, Transtroy Bourgas, KZU and Monolit 3.
The chief of the cabinet of the Minister of Regional Development and Public Works Kalin Rogachev announced that the delay was at the request of LUKoil Bulgaria, which has not received a permit from its headquarters in Russia.
According to Rogachev all seven companies, which declared willingness to join the project, have deposited the required fee.
The statute of the venture and its board of directors will be approved on April 17. The Cabinet approved the Trans Balkan Oil Pipeline Bulgaria draft statute and the state's golden share on February 20. The initial capital of the company will be 3 001 000 leva in which the state will hold a golden share with a nominal of 1000 leva.
Bulgarian companies will have a 5 to 25 per cent share in the company to participate in the construction of the Bourgas-Alexandroupolis oil pipeline project.
As the shares the candidates desire exceed 100 per cent, they will be reduced commensurably down to 14.3 per cent each.
All decisions will be made by a majority of three quarters, meaning that the companies must reach a consensus on debatable matters. The board of directors will consist of nine members. All member companies holding more than a 12.5 per cent share will be entitled to have a representative on the board. Thus all the seven members will have a board member. The Ministry of Regional Development and Public Works will have a representative as well. The seven companies must thus elect one more board member. They have rejected the proposal to register the headquarters at the ministry's address. Some 320 000 euro of the authorised capital will be allocated to a feasibility study. The amount will be paid by the German consulting company ILF.
Meanwhile, Bulgaria was left out of the natural gas delivery pipeline project intended to bring Iranian gas to Western Europe.
At a meeting in Thessaloniki on Monday, Turkey, Greece and Austria signed a tripartite agreement on the extension of the route from Turkey to the Balkans. The gas pipeline will pass via Turkey, Greece, Macedonia, Serbia and Monte Negro and Slovenia to Austria, which means that Bulgaria will not be involved.
The negative news came despite the optimism of Bulgarian Energy Minister Milko Kovachev, who said last week that the EU could provide funding for the pipeline via Bulgaria. Kovachev cited European Commi-ssion Vice President Loyola de Palacio.
De Palacio, who is in charge of relations with the European Parliament, Transport and Energy, conferred with Kovachev during an energy industry forum in Brussels. Kovachev pointed to the need for larger financial support for the natural gas pipeline from Iran via Turkey, Bulgaria, Romania and Austria to Central Europe.
De Palacio said funding could be provided under the EU Trans-European Energy Networks Programme.
The envisaged pipeline will carry natural gas from the northern Greek port of Thessaloniki to Austria. Greece's natural gas supplier, Depa, Turkey's state pipeline company, Botas, and Austrian oil company OMV signed the memorandum on Monday.
The so-called 'Balkan gas route' is seen as part of a wider plan to import natural gas and oil from the Caspian Sea and The Persian Gulf into Europe via Turkey and Greece.
